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Actuarial Trainee - Insurance Consulting
Background
The Insurance Consulting team provides a range of actuarial and consultancy services to insurance companies and friendly societies as well as the actuarial profession. Barnett Waddingham is the leading UK actuarial consultancy specialising in the monitoring and management of mortality and morbidity risks.
The role
We recruit and train high calibre staff who work in a client-focussed team within our London office. Working closely with an appointed Partner, Trainees will be involved in many areas of advice.
Principal areas of advice relating to insurers writing life, health and general insurance both in the UK and overseas include:
- Advice on bulk purchase annuity arrangements
- Experience investigations
- Mortality analyses
- Regular statutory valuations
- Acting as Actuarial Function Holder
- Peer Review and acting as Reviewing Actuary
- Individual Capital Assessments
- Financial and risk management
- Embedded values, appraisal values and GAAP valuations
- Product design, pricing, documentation and quotation software
- Business planning
- Advice on sales and purchases of insurers
- Advice on restructuring insurance businesses
- Establishment of insurers and business plans
- Various categories of advice specific to with-profits offices
- Internal controls and risk management
The Insurance Consulting team also provide niche services and advice in the following areas:
- Expert witness work related to life insurance business
- Traded endowment policies
- Charities
We work closely with and are supported by other teams in Barnett Waddingham in terms of research, development and systems.
A newly recruited insurance actuary can expect to become involved in a range of work and will quickly assume both client and team management responsibilities. The role may also include opportunities for new business presentations, marketing, research and an involvement in the commercial management of the company. You will also have the opportunity to become quickly involved in research projects.
Study
Actuarial Trainees are expected to work towards qualification and you will be given every support to achieve this. A generous study package is provided which includes study days, funding for external courses, and a study mentor from within the company to support you. You will also be amply rewarded for passing exams as you progress. A strong desire to develop personally is essential as the path to qualification requires a degree of self motivation.
Personal skills
Excellent communication skills are essential together with a positive and enthusiastic approach. You must be organised and pay meticulous attention to detail. Candidates should be good team players as all our Actuarial Trainees work closely with each other, as well as other teams.